EV via Salary Sacrifice - indicative monthly cost?

EV via Salary Sacrifice - indicative monthly cost?

Author
Discussion

Rob-nxrcm

1 posts

27 months

Thursday 17th February 2022
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alfaeejit said:
We've got the tusker SS scheme (local authority) and we don't seem to get the same deals as the NHS schemes. I think there were some real bargains a couple of years ago (etron etc) but they seem to have dried up. If you hunt there are some good looking deals though - a 40kwh leaf for 220ish a month (net) for 24 months seems decent and there was a launch edition e-mokka for 240 for 24 months. The ix3 was also available for 450 for 48 months but that's shot up now

I've also noted that the 40 q4 etron is actually coming in cheaper than the bigger battery version of the id4 and enyaq which is quite temping at 440 for 48 months and a similar amount gets you an ioniq 5 AWD.
Hi there. My firm are putting in Tusker at the end of next month and I’m after the new facelift Ix3, do you have any insight as to how much it is now? I’m a 40% taxpayer

jimmy_wrxsti

202 posts

183 months

Saturday 19th February 2022
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Rob-nxrcm said:
Hi there. My firm are putting in Tusker at the end of next month and I’m after the new facelift Ix3, do you have any insight as to how much it is now? I’m a 40% taxpayer
Just be mindful that it's not that simple though for EV SS Schemes as individual pricing from the same supplier and same tax rate can still vary a lot based on:
- Your age and location for the built in insurance
- Your employers setup of the scheme (do they pass on both NIC savings and the 50% VAT they can claim?)
- Your individual pension; as discussed on this thread before, depends on pension setup as to whether your pension contributions also drop and so the net salary figure is less than for someone who's pension contributions dont change

ukpolak

173 posts

40 months

Tuesday 1st March 2022
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Likewise Tusker via SS coming in to my company next month.

Interested if this platform has identical pricing across all companies - so does “Company A” via tusker get a Tesla for the same price as “Company B” albeit the variables above change (pension, savings pass-on, insurance pricing)?

I see if like xexec or other corporate discount platforms.. I can buy a Dell PC with a “company A” 15% discount just like “company B” can as they have access to the same pricing. Is this the same as Tusker for cars?

SWoll

18,455 posts

259 months

Tuesday 1st March 2022
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ukpolak said:
Likewise Tusker via SS coming in to my company next month.

Interested if this platform has identical pricing across all companies - so does “Company A” via tusker get a Tesla for the same price as “Company B” albeit the variables above change (pension, savings pass-on, insurance pricing)?

I see if like xexec or other corporate discount platforms.. I can buy a Dell PC with a “company A” 15% discount just like “company B” can as they have access to the same pricing. Is this the same as Tusker for cars?
Depends on the number of vehicles to be supplied and the level of insurance cover for early termination usually.

ukpolak

173 posts

40 months

Wednesday 2nd March 2022
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Thanks for the quick response - will check out when it opens and here’s hoping.

alfaeejit

10 posts

51 months

Friday 4th March 2022
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Tusker prices are all over the place at the moment - I've got a ec4 on order which is coming in at 200 a month (net) for 3 years but the current price is about double that! All seem to have crept up a bit the last month and nothing that jumps out as a great deal TBH

TooLateForAName

4,755 posts

185 months

Monday 7th March 2022
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Are these NHS schemes available if you are retired/returned?

My OH is about to retire and return and her leaf is getting on a bit. Started looking at options and just wondered if the schemes are applicable? Anyone give me an indication of prices?

Roger Irrelevant

2,948 posts

114 months

Monday 7th March 2022
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My company recently started an electric car SS scheme which got me a bit excited - basically an EV would be a bit of a pain for me as I don't have off-street parking but I'd consider putting up with that inconvenience I could get a really good (read fast) one on the cheap. However when I looked into Taycan Cross Turismos (love 'em, think they're great) the net costs ended up being roughly what I would have guessed they'd be if I was paying out of post-tax salary anyway, but crucially I'd lose quite a chunk of employer pension contributions and that kills it for me. Maybe I was being too optimistic having heard about the amazing deals other people have got. Granted there are many other EVs available for much less but none of which seem special enough to warrant the cost and hassle that goes with them. One to revisit in a few years perhaps.

SWoll

18,455 posts

259 months

Monday 7th March 2022
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Roger Irrelevant said:
My company recently started an electric car SS scheme which got me a bit excited - basically an EV would be a bit of a pain for me as I don't have off-street parking but I'd consider putting up with that inconvenience I could get a really good (read fast) one on the cheap. However when I looked into Taycan Cross Turismos (love 'em, think they're great) the net costs ended up being roughly what I would have guessed they'd be if I was paying out of post-tax salary anyway, but crucially I'd lose quite a chunk of employer pension contributions and that kills it for me. Maybe I was being too optimistic having heard about the amazing deals other people have got. Granted there are many other EVs available for much less but none of which seem special enough to warrant the cost and hassle that goes with them. One to revisit in a few years perhaps.
You might fid the SS car is significantly cheaper if you're just guessing? What were the SS terms and cost?

justin220

5,347 posts

205 months

Monday 7th March 2022
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I also looked at a Tusker supplied Taycan Cross Turismo, and it was £1100 net cost. Considering thats no deposit, both insured etc I thought it was pretty reasonable (relatively speaking!)

To buy one through Porsche would be significantly more than that, or take a much larger deposit.

Some cars on the Tusker SS scheme seem to be good value (Mini, corsa) , but the mid range stuff seems really expensive (Tesla MY, etc) ..

SWoll

18,455 posts

259 months

Monday 7th March 2022
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justin220 said:
I also looked at a Tusker supplied Taycan Cross Turismo, and it was £1100 net cost. Considering thats no deposit, both insured etc I thought it was pretty reasonable (relatively speaking!)

To buy one through Porsche would be significantly more than that, or take a much larger deposit.

Some cars on the Tusker SS scheme seem to be good value (Mini, corsa) , but the mid range stuff seems really expensive (Tesla MY, etc) ..
Depends on the model and terms. You can lease a Taycan CT4 on a 4 year deal for around £1000 a month with no deposit.


anonymous-user

Original Poster:

55 months

Monday 7th March 2022
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Roger Irrelevant said:
My company recently started an electric car SS scheme which got me a bit excited - basically an EV would be a bit of a pain for me as I don't have off-street parking but I'd consider putting up with that inconvenience I could get a really good (read fast) one on the cheap. However when I looked into Taycan Cross Turismos (love 'em, think they're great) the net costs ended up being roughly what I would have guessed they'd be if I was paying out of post-tax salary anyway, but crucially I'd lose quite a chunk of employer pension contributions and that kills it for me. Maybe I was being too optimistic having heard about the amazing deals other people have got. Granted there are many other EVs available for much less but none of which seem special enough to warrant the cost and hassle that goes with them. One to revisit in a few years perhaps.
Have you had confirmation of the impact on pension?

I’ve signed up via Zenith and there is no impact on my pension contributions as my pension is also Salary Sacrifice and both the car and pension come off my gross pay. Was the first question I asked before signing up as I was worried about any pension impact.

Roger Irrelevant

2,948 posts

114 months

Monday 7th March 2022
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SWoll said:
Roger Irrelevant said:
My company recently started an electric car SS scheme which got me a bit excited - basically an EV would be a bit of a pain for me as I don't have off-street parking but I'd consider putting up with that inconvenience I could get a really good (read fast) one on the cheap. However when I looked into Taycan Cross Turismos (love 'em, think they're great) the net costs ended up being roughly what I would have guessed they'd be if I was paying out of post-tax salary anyway, but crucially I'd lose quite a chunk of employer pension contributions and that kills it for me. Maybe I was being too optimistic having heard about the amazing deals other people have got. Granted there are many other EVs available for much less but none of which seem special enough to warrant the cost and hassle that goes with them. One to revisit in a few years perhaps.
You might fid the SS car is significantly cheaper if you're just guessing? What were the SS terms and cost?
Oh I don't doubt it does work out cheaper than if you do it via a 'normal' lease - it would be pretty odd if it didn't - it's just that my expectations were a bit wide of the mark. Hearing about £50k E-Trons and the like for £300pm must have made me think that everyone can get that sort of amazing deal which (I now understand) isn't the case. Still, if as another poster said it is still your gross salary that is used for pension contribution purposes that does make a big difference; the impression I got from the HR bumpf my company sent out was that it would impact my employer's contributions but then I shouldn't be surprised if HR have got it wrong.

Matt..

3,603 posts

190 months

Friday 8th April 2022
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We are getting one of these schemes at work. One major point that puts me off is that if I leave the company I need to return the car. Is there any way around this? It seems a little bizarre that this is how it works.

OnionBhaji99

181 posts

137 months

Friday 8th April 2022
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Matt.. said:
We are getting one of these schemes at work. One major point that puts me off is that if I leave the company I need to return the car. Is there any way around this? It seems a little bizarre that this is how it works.
No way around it. It would be more bizarre if it didn't work like that.

Payments are processed by your companies payroll, if you leave how can they process the payments?

Matt..

3,603 posts

190 months

Friday 8th April 2022
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OnionBhaji99 said:
Payments are processed by your companies payroll, if you leave how can they process the payments?
Why can it not be transferred to another company and managed by their payroll?

AyBee

10,536 posts

203 months

Friday 8th April 2022
quotequote all
Matt.. said:
We are getting one of these schemes at work. One major point that puts me off is that if I leave the company I need to return the car. Is there any way around this? It seems a little bizarre that this is how it works.
Is that the only restriction? Mine are bringing in the Octopus scheme and it sounds like they're going to levy anyone who leaves with a bill for 50% of remaining payments. It's basically a reverse retention scheme which would put me off the scheme completely!

Mr E

21,634 posts

260 months

Friday 8th April 2022
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AyBee said:
Is that the only restriction? Mine are bringing in the Octopus scheme and it sounds like they're going to levy anyone who leaves with a bill for 50% of remaining payments. It's basically a reverse retention scheme which would put me off the scheme completely!
This is one of the reasons HR like it.
If I were leaving, I’d negotiate that cost on the way into the new employer.

SWoll

18,455 posts

259 months

Friday 8th April 2022
quotequote all
Matt.. said:
We are getting one of these schemes at work. One major point that puts me off is that if I leave the company I need to return the car. Is there any way around this? It seems a little bizarre that this is how it works.
It's an alternative way of funding a company car, what did you think was going to happen?

sawman

4,920 posts

231 months

Saturday 9th April 2022
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TooLateForAName said:
Are these NHS schemes available if you are retired/returned?

My OH is about to retire and return and her leaf is getting on a bit. Started looking at options and just wondered if the schemes are applicable? Anyone give me an indication of prices?
Yes, if she is still salaried with return to work. The cost would be slightly higher than for a pension contributor